ITV’s revenue rose 1% to £3.5bn in 2026. Studios revenue grew 5% reflecting strong demand from global streaming platforms. This more than offset weaker advertising revenue in its Media & Entertainment business where the prior year benefitted from the 2024 men’s Euros.
Underlying cash profit (EBITA) fell 3% to £531mn, driven by lower advertising revenues.
Free cash flow fell from £325mn to £187mn, reflecting lower levels of cash generation. Net debt rose from £431mn to £566mn.
In 2026, ITV expects to deliver “good” revenue growth, ahead of the broader market. Full-year underlying cash profit margins are expected to be at the lower end of its 13-15% target range due to an unfavourable revenue mix.
A final dividend of 3.3p per share was announced, taking the full-year total to 5.0p, in line with the prior year.
The shares rose 3.6% in early trading.
Our view
HL view to follow.
ITV key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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